This is what happens when you put water into boiling cooking oil.
Water and oil don’t mix and water is more dense than oil. When one pours water into a flaming pan of oil, it wants to sink to the bottom. When it does, it comes in contact with the very hot pan (and oil) and instantly vaporizes into steam. The instantaneous phase change, from a liquid to a gaseous state, is accompanied by a tremendous expansion. Because the water (now steam) is below the oil, it expands rapidly upward, explosively expelling the flaming oil. It atomizes the oil, in the process, oxygenating it and effectively creating a volcanic blow torch.
Watch this video by Discovery Channel to see the effect.